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The High Low Chart is a custom drawing tool I have created to display the percentage distance from the cursor position to the highest high and lowest low of a chart quotes.
When moving your mouse cursor, the percentage change from the current mouse Y position to the highest high and to the lowest low are automatically updated; they are also updated when moving the chart position (when the highest high and lowest low changes).
This custom drawing tool also draws a green line from the mouse position to the highest point and a red line from the mouse position to the lowest point. To remove the item, simply click on the chart.
The drawing tool script consists of the following parts:
- Stops drawing if at least one click is detected
- Calculates the highest and lowest Y values and their corresponding X values. The high and low time-series are obtained with the help of the "Functions.ChartData.GetTimeSeries" function.
- Draws percentage values using "Functions.PaneObject.DrawText" function
- Draws lines using "Functions.PaneObject.DrawLine" function
The drawing item cannot be moved or resized; it only displays the percentage change of the mouse position to highest and lowest values visible on the chart.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.